Blue Ridge Bankshares(US:BRBS) Prnewswire·2026-01-29 22:15Core Insights - Blue Ridge Bankshares, Inc. reported a return to profitability in 2025, with a net income of $10.7 million compared to a net loss of $15.4 million in 2024, marking a significant turnaround for the company [3][4]. Financial Performance - For Q4 2025, the company reported a net income of $4.2 million, or $0.04 per diluted common share, down from $5.6 million, or $0.06 per diluted common share in Q3 2025, but an improvement from a net loss of $2.0 million in Q4 2024 [2][9]. - The total net interest income for Q4 2025 was $18.1 million, a decrease from $21.9 million in Q3 2025, primarily due to a decline in average balances of interest-earning assets [8][17]. - The net interest margin for Q4 2025 was 3.04%, down from 3.60% in Q3 2025, reflecting the impact of prior quarter loan fee income [10][23]. Capital and Dividends - The company announced a special cash dividend of $0.25 per share, totaling approximately $29.1 million, which was paid to shareholders on November 21, 2025 [4][14]. - The company also initiated a share repurchase program, allowing for the purchase of up to $15 million of its common stock, with 802,735 shares repurchased at an average price of $4.17 per share [14][26]. Asset Quality - Nonperforming loans improved to $23.8 million, or 0.98% of total assets, down from $28.6 million, or 1.14% of total assets in the prior quarter [12][22]. - The allowance for credit losses as a percentage of total loans held for investment was 1.04% at December 31, 2025, compared to 1.07% at the prior quarter end [12][24]. Operational Efficiency - The company reduced its headcount by over 30% from year-end 2024 to year-end 2025, contributing to a decrease in noninterest expenses, which fell to $16.9 million in Q4 2025 from $20.0 million in Q3 2025 [5][21]. - Total noninterest expense for the year ended December 31, 2025, was $81.9 million, down from $113.8 million in 2024, primarily due to lower salaries and benefits expenses [26]. Balance Sheet Highlights - Total assets decreased to $2.43 billion at the end of Q4 2025 from $2.50 billion at the prior quarter end, driven by declines in loans held for investment and securities available for sale [22][27]. - Total deposits decreased to $1.91 billion from $1.95 billion at the prior quarter end, with a notable decline in brokered deposit balances [28][29].